Income Tax Act 2023
Section 2 Clause 62 - Annual Value
(as updated till Finance Act 2024)
“annual value”, in relation to any property let out, means—
(a) the sum for which property might reasonably be expected to let from year to year; or
(b) where the annual rent in respect thereof is in excess of the
sum referred to in sub-clause (a), the amount of the annual
rent;
Disclaimer: This is the authentic English text of the Income Tax Act 2023, as published under SRO No. 404-Law/2025 dated 08 October 2025. In the event of any inconsistency or conflict between the content on this website and the official Government publications or gazette notifications relating to laws, rules, regulations or SROs, the official Government publications and notifications shall prevail.